What is Aevo?
#AEVOLAUNCHPOOL is a Layer 2 decentralized trading (DeFi) platform with the ambition to become a destination for online trading, derivatives and perpetual contracts. Powered by leading DeFi protocol Ribbon Finance, #Aevo combines the flexibility and customization of traditional trading infrastructure with the transparency of blockchain.
Recently, #Binance officially announced the launch of the 48th #Lauchpool with a project called Aevo. This can be considered the next success of the project that successfully raised capital of 17M USD and had quite large backers behind it such as DragonFly Capital, Paragigm, Coinbase,...
main feature
Unlike previous DeFi options protocols, Aevo introduces a number of innovative features that meet today's needs of traders such as:
High-performance off-chain order book capable of executing thousands of transactions per second (due to being built on the OP Stack platform)
Advanced deposit system
Supports a variety of daily, weekly, monthly and quarterly payment options
Significantly reduce transaction fees due to using Off-chain Order (most are using on-chain order)
The trading model is not allowed to open new orders while being liquidated
Main product
Perpetual
This is the exchange's interface for you to participate in Long/Short through the orderbook (order book) with many coin choices like other CEX exchanges.
Pre-Launch
Allows players to satisfy their Long/Short passion with tokens that have not yet been listed on CEX or DEX. The tokens opened here include: BLAST, PARCL and SHFL, previously there was JUP and DYM when these two were not listed on the CEX exchange.
Option
This is where we can buy the daily, weekly, monthly, and yearly options mentioned above. Currently BTC and ETH are the two coins supported in this feature.
With a quite friendly interface, similar to current CEX exchanges but only requiring a wallet connection to be able to conduct transactions, this is a pretty good choice for users.
Integration with Ribbon Vaults
The key development was Aevo's proposed integration with Ribbon Finance's Yield Vaults product last July. Currently selling over $10 million USD of ETH and BTC options each week, Ribbon's weekly options auctions will move to Aevo instead of the Ethereum network. This opens up huge advantages such as:
Vault LPs can freely trade their options tokens on Aevo's secondary market instead of holding them until expiration
Market makers can use vault options as direct positions to hedge risk
Essentially, the vaults will act as options pipelines into Aevo while the exchange provides flexibility and composability that previous token vaults lack. This is what makes Aevo the leading platform for on-chain options trading
(Aevo became the DEX with the highest trading volume on February 28)
Tokenomics
DAO Treasury: 36%
Team: 23%
Private Sale: 18.5%
Remain RNB in Circulation: 10.3%
Binance Launchpool: 4.5%
Airdrop: 3%
Company Treasury: 2.7%
Market Maker: 2%
Token unlock schedule
Unlock 18.5% for Private Sale round investors in May 2024
Users holding RBN tokens can transfer to AEVO at a 1:1 ratio with a lock-in period of 2 months
Allocation of 16% from FDV to users and ecosystem over a period of 4 years
summary
In just over a year since launch, Aevo has achieved more than $10 billion in options trading volume and is hungry for more growth. The project is aiming to become a gateway connecting both institutions and individual users to the cryptocurrency derivatives market. However, my personal experience is that it is still quite laggy and not as smooth when trading long/short as on major CEXs. Let's wait and see how big name rival DYDX will perform when they are about to take the field!
